San Augustine County

San Augustine County sits at a median home price of $178,862, up 2.93% year-over-year, with an affordability index of 92 out of 100. The cash flow score is zero, which is a direct signal: the data does not support penciling in reliable rental income here. The appreciation score of 79 and the national percentile rank of 91st out of 1,000 counties tell a different story, placing San Augustine firmly on the appreciation end of the spectrum rather than the cash-flow end. There is no cap rate or cash-on-cash figure populated in the data, which means investors relying on yield metrics to underwrite a deal will find this county difficult to justify on the numbers alone.

That profile maps to a specific buyer type: someone playing for long-term price appreciation in an affordable entry market, not a landlord who needs month-one cash flow. At $178,862 median with a down payment around $35,772, the capital requirement is low relative to most Texas metros. The 2.93% price growth is modest in absolute terms but meaningful for a county ranked 15th in Texas out of 243 and 74th nationally. A value-add operator hunting for distressed assets in a low-price county might find raw material here, but the absent cash flow score is a caution: if you cannot force value through renovation and reposition at a higher rent, the underlying yield picture does not carry the deal.

The neighbors data here does not include a rent figure or rent-to-price ratio for San Augustine itself, so direct comparison on yield is not possible. What the data does show is that San Augustine's $178,862 median sits meaningfully above Cottle County ($65,066) and Donley County ($107,130) among the listed neighbors, which are priced more like distressed rural markets. Andrews County ($244,484) and Callahan County ($220,841) are more expensive with nearly identical overall scores of 75 versus San Augustine's 74, suggesting only marginal score differentiation at a $40,000-$65,000 price premium. Wichita County is the most instructive comparison: a median of $163,787, a rent-to-price ratio of 0.0867 (roughly $1,183/month median rent), and an overall score of 68. An investor who needs demonstrable cash flow potential should look at Wichita County first, where the rent-to-price ratio is actually populated and approaches a workable gross yield. San Augustine's edge over Wichita, and over Andrews and Callahan, is affordability and appreciation score, not current income.

On carry costs, property taxes demand attention. Using the state-average effective rate of 1.80% (a Tax Foundation 2024 estimate, with actual county and township rates potentially differing), annual property tax on a $178,862 purchase comes to $3,220. Add insurance at 0.50% annually ($894), and the combined monthly tax-and-insurance load is $343 before mortgage, maintenance, or vacancy. At 1.80%, this is a high rate by national standards and deserves its own line on any underwrite. Texas has no state income tax, which partially offsets the tax burden for out-of-state investors, but the 1.80% rate on a thin-margin rural property is not trivial. If you are modeling this deal as a low-cost entry play, $343/month in fixed carry costs before financing is a real floor that compresses any margin.

The population of 7,920 is the most direct risk factor the data surfaces. A county this small has limited tenant depth, and any single employer contraction, population outflow, or demographic shift hits occupancy faster and harder than it would in a larger market. The stability score of 50 is the lowest category score in the profile and likely reflects exactly this dynamic. An investor should underwrite conservatively on vacancy assumptions and should not expect to lease quickly if a unit sits. The appreciation case also depends on continued price appreciation in a thinly traded market, where median prices can move on small transaction volumes in ways that overstate or understate true trends. The 2.93% YoY gain is real in the data, but in a county of under 8,000 people, that figure can be driven by a handful of sales.

Relative to the neighbors, San Augustine makes the most sense for an investor who already has a thesis on Deep East Texas land values, is buying near the lower end of the price range, and is comfortable holding for five or more years without relying on rental income to service the debt. If cash flow is the mandate, Wichita County's 8.67% gross rent-to-price ratio is a materially better starting point. If price entry is the sole driver, Cottle and Donley are cheaper, though their overall scores of 68 trail San Augustine's 74. San Augustine's 91st national percentile rank is the number that earns a second look, but the cash flow score of zero means the investment case rests entirely on that appreciation thesis holding.